Glazer prepares United bid

US businessman, Mr Malcolm Glazer, was yesterday reported to be preparing a £650 million sterling (€941 million) bid for Manchester United, a move that would involve him buying out the 29 per cent stake of Irish racing and bloodstock millionaires, Mr John Magnier and Mr JP McManus.

Banker, Mr Mehmet Dalmann, who has worked closely with Mr Glazer in the past, told British media that Mr Glazer was interested in buying Manchester United plc outright. Mr Glazer already owns an American football team, the Tampa Bay Buccaneers, and has built up a 19.17 per cent stake in the company that owns the soccer club.

According to the reports, Mr Dalmann said that Mr Glazer and his three sons were interested in owning the club, and indicated that they could continue to buy shares in the company. He also said that Mr Glazer had met Manchester United chief executive, Mr David Gill, in July. Cubic Expression, which owns 28.9 per cent of Manchester United plc, is owned jointly owned by Mr Magnier and Mr McManus.